The jump to the wholesale market can be prove to be a daunting task. You’re required to have large quantities of products en masse for prospective new retailers. You deal with numbers usually much larger than your average transactions. On top of all that, you’ve got to re-do all that hard work to get noticed in a completely different beast of a market! Well take those lessons you’ve learned along the way, put on those work boots and don’t fret, Now In Store is here to help.
Once you’ve made the decision to advance your product into the wholesale market, there are a few steps that you should take to get your foot in the door.
Catalog
Make sure that you’ve compiled your set list of items that you are ready to create in large enough quantities for wholesale. Large businesses are productivity beasts, and if it becomes a struggle to locate and determine which items are on wholesale there’s a bigger chance they won’t waste anymore time. Make sure to create a catalog that is pleasing to the eye and easy to navigate. Also make sure to have readily available prices, descriptions and product order forms. Efficiency is key and a one-stop shop allows businesses to be just that. We here at Now In Store are here to specifically assist you in this endeavor. Try us out! > http://goo.gl/c2uN3W.
Research
Figure out which stores are more inclined to buy the style or type of items you create. Are the consumers that shop there from the same market niche than the consumers that directly buy your products? What is the location and is there consistent business? Do these businesses only sell on consignment terms? This is vital to understand because with a consignment agreement, you want to be sure that items are consistently being moved off the shelf and into consumer’s hands. Rather than back into your hands as you frantically search for a plan B to sell your newfound inventory.
Wholesale Shows
Another great option for many creators are wholesale shows. These shows offer an extremely good opportunity to get noticed as a seller. Retailers at these shows are always looking to add great, unique products to their stores and what better place to get yours on display. http://www.wholesalecentral.com/tradeshowcal.htm is a great resource to find out where these shows are taking place, and for what type of items.
Cold Calls! Cold Calls! Cold Calls!
This method of contacting retailers has benefited many sellers in the past. It is the tried and true method. A lot of the time many business enjoy hearing of possible new items that might increase their profits so don’t be afraid! And don’t be afraid to contact the big time retailers early on as well but know in advance that appointments with the larger stores can take a long time to setup. By contacting the larger retailers first, you’re able to then divert your attention onto the smaller, individual businesses and build your client list up that way. By the time your appointments come along, you’ve got even more proof as to why they should carry your product.
Note! Make sure to utilize social media or do some advanced research at your local stores to attempt to figure out who exactly receives these calls or sets the appointments for the entirety of the company, knowing who you are dealing with and getting support from local stores can go a long way in persuading the company as a whole to take your product on. In addition, make sure to follow up. Persistence is key.
Wholesale or Consignment
Now for those of you that are still unsure, I want to make clear the difference between wholesale and consignment. When selling wholesale, the store is directly buying the items from you at that moment, this is before shipping and delivery. A consignment agreement means that you are giving the retailer your items to sell within their store, yet being paid on a per sale basis. There are pros and cons to each, which mainly depend on the type of item you sell. Do your research and make sure to agree to the right terms for you and your business!
We here at Now in Store hope these tips help you in your future wholesale endeavors. Once you’ve gotten your foot in the door, your numbers can grow exponentially and you can begin to lead your business even further than you imagined. Now get out there and make some calls!
-Lyle Niblock with Now In Store
